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Illinois grain prices in country elevators

***THIS REPORT WILL NOT BE PUBLISHED TUESDAY DUE TO THE MONDAY MARTIN LUTHER KING HOLIDAY OBSERVANCE***

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[January 19, 2013]  SPRINGFIELD -- This is Friday's report of the grain prices and trends, prepared by the USDA and the Illinois Department of Agriculture.

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Illinois country grain prices were mostly higher on Friday afternoon.

Corn and wheat futures were supported by fund buying at the Board of Trade.

New fundamental news to move prices was hard to find.

Though a weather forecast for dry and cold conditions in the plain states supported wheat values.

In Northern and Western Illinois country grain dealers quoted shelled corn bids were 1 to 5 cents higher at 7.11-7.35.

Soybean bids were mixed at 14.18-14.39.
 
In Central Illinois country grain dealers quoted shelled corn bids were 3 cents higher at 7.21-7.39.

Soybean bids were 1 to 5 cents lower at
14.32-14.45.


In the Southern part of the state, shelled corn bids were 3 cents stronger at 7.12-7.52.

Soybean bids were 1 cent lower at 14.46-14.67. Wheat bids were 10 to 15 cents higher at 7.80-8.01.

Illinois grains ended sharply higher for the week. 

The futures market was supported by the
USDA"s reports last Friday, especially corn and wheat. 

In the USDA's Quarterly Grain Stocks
report, corn stocks in all positions as of December 1, 2012 were lower than expectations at 8.03 billion bushels. 

Wheat values were supported by lower than expected US and world carryout figures.

Soybean futures have been supported by strong basis levels in the cash market and export sales. 

This week there was an announcement of the sale of 120,000 tonnes of US soybeans to China, with another sale of 240,000 tonnes to an unknown destination. 

Weekly export sales numbers were also very good on Thursday, with sales of 1.788 million tonnes for both old and new crop beans.

The trading in the cash grain market was moderate.  While basis levels have temporarily peaked for both cash corn and soybeans, they still remain very strong.

The best deals are still for quick shipments, especially by the end of the January. Some heavy rainfall in several locations in southern Illinois last weekend has helped boost water levels along the Mississippi River. 

The water levels are up two feet from last week in St.Louis. 

The Central Illinois Soybean Processors cash bids were up 47 to 56 cents ranging from 14.62-14.75, with basis mixed at +32H to +45H.

The Central Illinois Corn Processors cash bids were 18 to 25 cents stronger ranging from 7.29-7.48, with basis steady to 7 cents lower ranging from +5H to +24H.

At the Illinois River terminals south of Peoria, cash corn bids ended 23 to 25 cents higher
ranging from 7.26-7.27, with basis steady to 2 cents lower at +2H to +3H.

Cash soybean bids gained 41 to 43 cents to 14.65-14.73, with basis down 7 to 9 cents ranging from +35H to +43H.

New crop wheat bids for delivery in July 2013 ended 35 to 36 cents higher ranging from
7.54-7.70, with basis steady to 1 cent higher at -41N to -25N.

At the Illinois River terminals north of Peoria, cash corn bids gained 21 to 24 cents to 7.21-7.24, with basis down 1 to 4 cents at -3H to option H.

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Cash soybean bids were up 40 to 46 cents at 14.60-14.70, with basis losing 4 to 10 cents ranging from +30H to +40H.

New crop wheat bids for July 2013 delivery
increased 36 to 39 cents to range from 7.68-7.75, with basis up 1 to 4 cents at -27N to -20N.

At the St. Louis terminals cash corn bids were up 26 to 28 cents at 7.24-7.27, with soybeans gaining 46 to 50 cents ranging from 14.80-14.90.

Cash bids for Soft Red Winter wheat gained
39 cents to 7.95-7.96 and cash sorghum bids were up 46 cents to range from 7.09-7.10. 

In northern and western Illinois, cash corn bids to producers at country elevators gained 29 to 38 cents at 7.10-7.30, with central Illinois locations up 26 to 30 cents at 7.18-7.36 and in southern Illinois bids were 29 cents higher ranging from 7.09-7.49.

Cash soybean bids in northern and western locations were up 46 to 53 cents at 14.19-14.34 with central Illinois bids gaining 47 to 51 cents at 14.33-14.51 and southern Illinois bids were 48 to 56 higher 14.47-14.68.

Cash wheat bids for Soft Red Winter wheat in southern Illinois locations advanced 36 to
40 cents to 7.73-7.86.

New crop wheat bids for June-July delivery in southern Illinois increased 35 to 39 cents to range from 7.53-7.65.

_____

Commercial grain prices paid farmers by Interior Illinois Country Elevators after 2.00 p.m. Friday are listed below in dollars per bushel:

AREA 

US 2

CORN

US 1

SOYBEANS

 US 2

SOFT

WHEAT 

NORTHERN

7.18 - 7.35 14.25 - 14.39  

WESTERN 

7.11 - 7.18 14.18 - 14.23  

N. CENT.

 7.21 - 7.34 14.32 - 14.45  

S. CENTRAL

 7.25 - 7.39 14.35 - 14.44  

WABASH 

7.34 - 7.43 14.46 - 14.59 7.85 - 7.96

W.S. WEST

7.12 - 7.34 14.57 - 14.61 7.83 - 7.90

L. EGYPT

7.40 - 7.52 14.51 - 14.67 7.80 - 8.01

Central Illinois average price

Corn:  7.30       (+ 2 1/2   H)
Soybeans:
14.38 1/2   (+ 9       H)

CONTRACT BIDS FOR JANUARY 2013 DELIVERY

AREA 

US 2

CORN

US 1

SOYBEANS

 ***US 2

SOFT

WHEAT 

NORTHERN

5.48 - 5.62 12.43 - 12.57  

WESTERN 

5.45 - 5.55 12.37 - 12.53  

N. CENT.

5.55 - 5.66 12.57 - 12.65  

S. CENTRAL

5.51 - 5.69 12.52 - 12.67  

WABASH 

5.56 - 5.70 12.55 - 12.62 7.73 - 7.87

W.S. WEST

5.45 - 5.60 12.52 - 12.67 7.74 - 7.75 

L. EGYPT

5.66 - 5.75 12.62 - 12.72 7.62 - 7.77

***June/July 2013 delivery
 

Cent. Ill. Average Price at Country Elevators

Week of

1/10/2013

1/3/2012

  Price--Basis Price--Basis

Corn

7.27 + 2 1/2H

6.99 option H

Soybeans

14.42 +12H

13.93 +13 H

Annual Comparison

 

December 2012

January 2012

  Price--Basis Price--Basis

Corn

7.23 option H

6.25 -6H

Soybeans

14.50 -8F

11.82 -221/2 H

[Text copied from USDA-IL Dept of Ag Market News, Springfield]

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